Zacks: Analysts Expect Euronav NV (EURN) to Announce $0.03 EPS

Wall Street brokerages predict that Euronav NV (NYSE:EURN) will post earnings of $0.03 per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Euronav’s earnings, with estimates ranging from ($0.10) to $0.12. Euronav reported earnings of ($0.11) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 127.3%. The firm is expected to issue its next earnings results on Thursday, January 24th.

According to Zacks, analysts expect that Euronav will report full year earnings of ($0.86) per share for the current fiscal year, with EPS estimates ranging from ($1.12) to ($0.73). For the next fiscal year, analysts expect that the firm will post earnings of $0.04 per share, with EPS estimates ranging from ($0.61) to $0.46. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Euronav.

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Euronav (NYSE:EURN) last announced its earnings results on Wednesday, October 31st. The shipping company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.02. The company had revenue of $110.52 million during the quarter, compared to analyst estimates of $119.04 million. Euronav had a negative net margin of 18.87% and a negative return on equity of 7.94%.

A number of equities analysts have weighed in on EURN shares. Zacks Investment Research upgraded shares of Euronav from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a research report on Friday, January 4th. Jefferies Financial Group started coverage on shares of Euronav in a research report on Monday, October 1st. They issued a “buy” rating and a $11.00 price target for the company. BTIG Research started coverage on shares of Euronav in a research report on Thursday, September 27th. They issued a “buy” rating and a $12.00 price target for the company. ValuEngine lowered shares of Euronav from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 12th. Finally, TheStreet lowered shares of Euronav from a “c-” rating to a “d+” rating in a research report on Friday, December 21st. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Euronav currently has a consensus rating of “Buy” and an average target price of $10.36.

Several hedge funds have recently added to or reduced their stakes in EURN. Cubist Systematic Strategies LLC purchased a new position in shares of Euronav in the second quarter worth $161,000. Citadel Advisors LLC purchased a new position in shares of Euronav in the third quarter worth $166,000. Tower Research Capital LLC TRC lifted its holdings in shares of Euronav by 156.6% in the second quarter. Tower Research Capital LLC TRC now owns 18,311 shares of the shipping company’s stock worth $169,000 after buying an additional 11,176 shares in the last quarter. Stevens Capital Management LP purchased a new position in shares of Euronav in the third quarter worth $205,000. Finally, ING Groep NV purchased a new position in shares of Euronav in the third quarter worth $228,000. 40.15% of the stock is currently owned by hedge funds and other institutional investors.

Shares of EURN traded up $0.07 during mid-day trading on Tuesday, reaching $7.78. The stock had a trading volume of 400,809 shares, compared to its average volume of 277,176. The firm has a market cap of $1.24 billion, a P/E ratio of -86.44 and a beta of 0.68. Euronav has a 12 month low of $6.77 and a 12 month high of $10.10.

About Euronav

Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil and petroleum products worldwide. The company operates through two segments, Tankers; and Floating Production, Storage, and Offloading Operations. As of December 12, 2018, it owned and operated a fleet of vessels, including 43 very large crude carriers, 2 ULCCs, 26 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 1 LR1s.